Stocks End Flat in Light Trading

Stocks drifted higher after their sour morning start, in light trading volume on a bond-trading holiday. Jonathan Cheng has details on The News Hub. Photo: Reuters.

This transcript has been automatically generated and may not be 100% accurate.

... the the ... while July day in the markets on ... Wednesday we got Jonathan Cheng of the Wall Street don't joining us on the on this that basically zero move on with that mean that I mean it wasn't ... and as the masses ... the the Mets the road to school and and that's the route was well yes and pay ... Jonathan ... new community in from wherever I need to know if it did and I know I'd I'd try one half of the market's close that the bond market are actually bigger ... than half the market down they were off today and visit titleholder day-to-day that's right ... so that means that you have some traders come into work but without ... the cues from the bond market would not come again a lot of action ... aam ... tree a volunteer back to nap billion which is is ... usually average about three and a half to four billion seems quite like that ... aam and ... I cleaned up a lot of news today and we don't have any economic data ... now we have a couple a small merger news here and there been but the omelette ... a lot of the conduct of people still also wired about the Facebook platform on the back its results ... if there was anything at all it's it's can be the fiscal cliff that that's remains top of mind and we got tired of talking about preschool ... did the garden about this this is gonna be as good as I ... was born a man of the Atlantic a pic is one of the decree situation thing going for well over three years to come up on for years and has eerie for me alone ... ALM so ... this fiscal cliff oh eight hits in Gemini basically right ... that's right ... we get an extension would and nobody really wants that ... that's right and and we've been writing about this but look a lot of investors already looking ahead to what happens in scenery first were looking at ... taxes going up on capital gains ... were looking at taxes going up and dividends so both of those ... dumb ... potential tax increases are already beginning to affect behavior by NASA people or ... person selling some of the winners of even holding the stock like Apple for ... a number of years ... you probably are sitting on a big paper again ... and you can get ... fifteen percent to that of that twelve percent of the people for some of the thirty first ... after that ... we ... know we don't know and that's huge trouble probably more probably one or one of the things I find interesting when when Tom present Obama was talking about the need to get this done deal done on the fiscal cliff to get this tax is a middling sort out ... he invoked the certainty I did the idea that what we know we know and investors will want to walk that something that some some economists say oh that's that that's rubbish that you did you sleep folks that ... say that it's just an excuse I was interesting because it did you find it interesting that while you talk to people in the market they will see you again and again and again the market hates uncertainty ... the election was was the one being ... uncertainty in the idea was let's get past that it doesn't matter whether the give Romney or Obama or whatever as long as we know what we get ... we know what getting and when the rain as what we had ... and yet ... nobody really seems to have in the sense ... that ... the uncertainties passes no sign of relief ... there's always something coming out now says what's up ... with an uncertainty ... I don't think people want to sit around and we can count on Congress or ... the president from two of them to come to some sort of agreement ... I think people are voting with feet ... and some liquidity stock selloff that it's all been partisan dollars but ... look if you wanna be certain about it ... you can cash out now